- By Aditya Pratap Singh
- Mon, 12 Feb 2024 12:50 PM (IST)
- Source:JND
EaseMyTrip's share price rose over 5% in early trade on Monday after the company's board gave in-principle approval to a proposal to open a 5-star hotel in religious city Ayodhya. The Hotel will be located near the newly constructed Sri Rama temple.
As the news broke, shares of EaseMyTrip rose over 5.56% to Rs 53.67 on the BSE in the early hours. However, the stock lost the gain and was trading at Rs 50:55 at around 12:20 pm.
Easy Trip Planners, an online travel tech platform, announced that its board had approved its latest joint venture- a proposed luxury 5-star hotel, strategically near Ram mandir or at a prime location in Ayodhya. The hotel's prime location would be less than 1 km from the Ram Temple, the company said in a statement.
Also Read: IPO Listing: APJ Surendra Park Hotels Shares Debut With Over 20% Premium Against Issue Price
EaseMyTrip To Invest 100 cr
EaseMyTrip, as one of the joint venture partners, committed to invest up to Rs 100 crore in Jeewani HospitalityPrivate Limited, the firm heading the project under incorporation.
Religious tourism sees 1,439 million tourists in 2022 and the places for religious tourism have earned around Rs. 1.34 lakh crore in the same year, reported Livemint.
26% return in 6 months
During the last 6 months, the company's share prices have seen an increase of more than 26 per cent. The company's 52-week low level in the stock market is Rs 37 per share. The market cap of the company is Rs 9131.33 crore.
Disclaimer: This is news about the performance of the company's shares only. Jagran does not advise you to invest, please take proper consultation before investing.
Also Read: Spicejet Plans To Layoff 1,400 Employees To Cut Operation Cost; Details inside